Wednesday, December 12, 2012

CalSTRS will Invest In Solar Power Plant

CalSTRS said Thursday it's investing $42.8 million in a solar-power plant near Sacramento and three other California infrastructure projects.

The California State Teachers' Retirement System said the investments are part of its 2-year-old commitment to infrastructure. The pension fund has $750 million invested in the field.

Infrastructure – airports, bridges, etc. – has become a popular investment for pension funds. CalPERS has poured billions into the sector, and CalSTRS announced in February that it was committing $500 million to an infrastructure-investment firm based in Australia.

CalSTRS' latest investments include a solar-power plant near McClellan Park, operated by SunEdison of Belmont; the Crockett power plant near Oakland; construction of a portion of the Presidio Parkway in San Francisco; and reconstruction of the Long Beach courthouse.

"These investments reflect CalSTRS' commitment to the California economy and our willingness to contribute to it in a way that helps our state and offers the fund long-term, steady cash flows," said Harry Keiley, chairman of CalSTRS' investment committee, in a prepared statement.


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